Essex Savings Bank Raises Stock Holdings in United Rentals, Inc. (NYSE:URI)

Essex Savings Bank grew its stake in shares of United Rentals, Inc. (NYSE:URI) by 5.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 331 shares of the construction company’s stock after acquiring an additional 16 shares during the quarter. Essex Savings Bank’s holdings in United Rentals were worth $233,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Envestnet Asset Management Inc. grew its position in United Rentals by 3.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 85,276 shares of the construction company’s stock worth $55,151,000 after purchasing an additional 2,902 shares during the period. SYSTM Wealth Solutions LLC grew its holdings in shares of United Rentals by 8.8% in the second quarter. SYSTM Wealth Solutions LLC now owns 1,163 shares of the construction company’s stock worth $752,000 after acquiring an additional 94 shares during the period. Mercer Global Advisors Inc. ADV grew its holdings in shares of United Rentals by 2.9% in the second quarter. Mercer Global Advisors Inc. ADV now owns 31,777 shares of the construction company’s stock worth $21,029,000 after acquiring an additional 889 shares during the period. Argent Trust Co lifted its holdings in United Rentals by 67.2% in the second quarter. Argent Trust Co now owns 2,119 shares of the construction company’s stock valued at $1,370,000 after acquiring an additional 852 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its position in United Rentals by 15.4% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,089 shares of the construction company’s stock worth $704,000 after purchasing an additional 145 shares during the last quarter. 96.26% of the stock is currently owned by institutional investors.

United Rentals Stock Performance

NYSE URI opened at $758.03 on Friday. The business has a 50-day moving average price of $782.94 and a 200-day moving average price of $759.89. The company has a quick ratio of 0.77, a current ratio of 0.82 and a debt-to-equity ratio of 1.38. United Rentals, Inc. has a twelve month low of $545.16 and a twelve month high of $896.98. The firm has a market cap of $49.74 billion, a price-to-earnings ratio of 19.80, a price-to-earnings-growth ratio of 1.46 and a beta of 1.69.

United Rentals (NYSE:URI) last released its quarterly earnings data on Wednesday, October 23rd. The construction company reported $11.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $12.49 by ($0.69). United Rentals had a net margin of 17.12% and a return on equity of 34.73%. The company had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the previous year, the business earned $11.73 EPS. The company’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, equities research analysts predict that United Rentals, Inc. will post 43.46 EPS for the current fiscal year.

United Rentals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.86%. The ex-dividend date was Wednesday, November 13th. United Rentals’s payout ratio is currently 17.03%.

Insider Activity

In related news, SVP Anthony S. Leopold sold 900 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $823.24, for a total value of $740,916.00. Following the sale, the senior vice president now directly owns 2,044 shares in the company, valued at approximately $1,682,702.56. The trade was a 30.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on URI shares. Barclays upped their price target on shares of United Rentals from $400.00 to $565.00 and gave the company an “underweight” rating in a research report on Friday, October 25th. Baird R W raised shares of United Rentals from a “strong sell” rating to a “hold” rating in a report on Tuesday. Robert W. Baird upgraded shares of United Rentals from an “underperform” rating to a “neutral” rating and set a $658.00 price target on the stock in a research note on Tuesday. Citigroup reduced their price objective on United Rentals from $985.00 to $835.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, JPMorgan Chase & Co. lifted their target price on United Rentals from $780.00 to $940.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $805.08.

About United Rentals

United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals and Specialty. The General Rentals segment rents general construction and industrial equipment includes backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities.